Lear Awarded Complete Interior Program by Mazda for Future Vehicle
30 November 2000
Lear Corporation Awarded Complete Interior Program by Mazda for Future VehicleSOUTHFIELD, Mich., Nov. 30 Lear Corporation today announced that it has been selected by Mazda Motor Corporation to supply the complete interior system for a future sports vehicle to be built in Hiroshima, Japan. Financial terms of the multi-million dollar agreement were not disclosed. Lear has been awarded this business as the total system integrator and will manage six automotive suppliers during the design and production process of the future vehicle's interior. This is the first total interior program Lear has been awarded in Japan. The vehicle will be sold in the U.S., Europe, Middle East and South America. Production volume is estimated at approximately 60,000 to 70,000 vehicles a year. "Lear is extremely pleased with Mazda's vote of confidence in our skill and expertise as an interior systems integrator by awarding Lear our first-ever complete interior program in Japan," said Bob Rossiter, President and Chief Executive Officer of Lear Corporation. The new business award from Mazda represents Lear's fifth total interior program and is the second announcement by Lear in the past month related to major business wins from Japanese automakers. "The Asian auto market represents a huge opportunity for Lear," Rossiter continued. "We have recently won several new business programs with Japanese automakers and are currently negotiating other projects to keep our momentum in the region going strong." Lear has been successful in winning $1 billion in incremental new business in the past year. As a result, the company's updated business backlog for 2001 through 2005 is $3.5 billion, or 25% of Lear's anticipated 2000 sales of $14 billion.